8. What is meant by the statement the demand for education is a 'derived demand' for high-paying...

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8. What is meant by the statement "the demand for education is a 'derived demand' for high-paying modern sector job opportunities"? Many educational specialists claim that families and children in LDCs demand education not so much as an investment good but as a consumption good. What do you think is the meaning of this statement and what do you think is the relative importance of the consumption demand for education among your student friends?

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